Wholesale prices in Germany rose at a record rate in May, the highest level since records began in 1949.
In particular, the producer price index showed an increase of 33.6% on an annual basis in May, mainly due to the energy prices that jumped by 87.1%.
It is characteristic that natural gas, on which German industry relies heavily, recorded a brutal jump of 148.1% compared to May 2021.
However, even without energy prices, in the so-called structural part of the index, the increase in producer prices was extremely high by 16.5% on an annual basis, which shows that inflationary pressures are spreading more widely.
It is noted that since last December, the producer price index in Germany has set a new record every month, indicating that inflation in the country has not yet reached its peak.
Source: Capital
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